Growth Fund Correlations

Mutual Funds . USA . 
Fund . Growth Fund Of
GFAFX Fund  USD 77.18  0.32  0.41%   
The current 90-days correlation between Growth Fund and Europacific Growth Fund is 0.51 (i.e., Very weak diversification). The correlation of Growth Fund is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Growth Fund Correlation With Market

Good diversification

The correlation between Growth Fund Of and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Growth Fund Of and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Growth Fund Of. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Growth Mutual Fund

  0.7AMECX Income FundPairCorr
  0.7RNEBX New World FundPairCorr
  0.84AMFCX American MutualPairCorr
  0.84AMFFX American MutualPairCorr
  0.79RNCCX American Funds IncomePairCorr
  0.7AMEFX Income FundPairCorr
  0.92RNGGX New Economy FundPairCorr
  0.82RNGFX New Economy FundPairCorr
  0.82RNGHX New Economy FundPairCorr
  0.81RNGBX New Economy FundPairCorr
  0.81RNGAX New Economy FundPairCorr
  0.82RNGEX New Economy FundPairCorr
  0.92RNGCX New Economy FundPairCorr
  0.74AMHIX American High IncomePairCorr
  0.78TEBCX Tax Exempt BondPairCorr
  0.76TECCX Tax Exempt FundPairCorr
  0.74TEAFX Tax Exempt BondPairCorr
  0.79FPTPX American Funds ConsePairCorr
  0.73TECFX Tax Exempt FundPairCorr
  0.73TEFEX Tax Exempt FundPairCorr
  0.81RNNEX New Economy FundPairCorr
  0.8CDJAX American Funds CollegePairCorr
  0.86AMPCX Amcap Fund ClassPairCorr
  0.86AMPFX Amcap Fund ClassPairCorr
  0.92RNPBX New PerspectivePairCorr
  0.93RNPAX New PerspectivePairCorr
  0.92RNPHX New PerspectivePairCorr
  0.92RNPGX New PerspectivePairCorr
  0.92RNPCX New PerspectivePairCorr
  0.92RNPFX New PerspectivePairCorr
  0.92RNPEX New PerspectivePairCorr
  0.74AMRMX American MutualPairCorr
  0.74AMRFX American MutualPairCorr
  0.64AMUSX Us Government SecuritiesPairCorr
  0.73TEPCX American Funds TaxPairCorr
  0.62TEPAX American Funds TaxPairCorr
  0.61TEPFX American Funds TaxPairCorr
  0.71RNWFX New World FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Growth Mutual Fund performing well and Growth Fund Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Growth Fund's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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